We’ve all been stung…
Contactless payment allows people to make cashless transactions in a streamlined and prompt fashion and is often far handier than fiddling around for change in your pocket.
The growth in the use contactless payments has accelerated wildly since the limit on spending was increased to €30.
Contactless payment means you can pay for small purchases in some retailers by holding your card beside a card machine without having to enter your PIN.
Your card is capable of this if it has the following symbol on it…
But you may have noticed that the service does not always work, and you’re required to insert your card and put in your PIN, despite the fact that you may have only used your contactless without issue earlier that same day.
But there’s actually a very good reason for this, it’s for your own security.
See, as the use of contactless requires no PIN, if you lose your card, someone could very easily swan around town and buy countless items for €30 or less and promptly drain the funds in your account.
So, the reason your transaction sometimes fails, is a security reason. According to VISA, you will be prompted to enter your PIN from time to time to confirm that you’re the genuine cardholder.
A spokesperson for VISA told JOE: “When consumers use their contactless card, they may be prompted to insert their card and use chip and PIN. This is because there is a security measure incorporated into the chip – a counter – that wants to ensure that the person using the card is the authorised account holder.
“So, after a certain number of uses, the card will prompt for a confirmation. Now, if you happen to go to the ATM and withdraw cash, the counter will reset, so it might be possible for someone to never be prompted for their PIN when they pay at the register if they use the ATM frequently.”
This ensures no one can steal vast sums of money from you by tapping your card with impunity.
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